Key TakeawaysPeloton announced new cost-cutting measures, including layoffs, and that CEO Barry McCarthy was stepping down.The exercise company that has struggled with a slump in demand following a boom during pandemic lockdowns said it will slash its workforce by about 15% and reduce its showroom presence.Peloton's third-quarter loss and revenue missed analysts' expectations. Shares of Peloton Interactive (PTON) sank to an all-time low Thursday after the provider of exercise machines and online workouts an ...

Peloton (PTON) reported $717.7 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 4.2%. EPS of -$0.45 for the same period compares to -$0.79 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $719.94 million, representing a surprise of -0.31%. The company delivered an EPS surprise of -15.38%, with the consensus EPS estimate being -$0.39.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Str ...

Peloton Interactive, Inc. (NASDAQ:PTON) Q3 2024 Earnings Conference Call May 2, 2024 8:30 AM ET Company Participants James Marsh - Head of IR Karen Boone - Interim Co-CEO Chris Bruzzo - Interim Co-CEO Liz Coddington - CFO Conference Call Participants Douglas Anmuth - JPMorgan Ronald Josey - Citi Aneesha Sherman - Bernstein Michael Graham - Canaccord Genuity Andrew Boone - JMP Securities Jonathan Komp - Baird Operator Good day and welcome to Peloton's Third Quarter Fiscal Year 2024 Conference Call. At this t ...

Peloton Interactive Inc (NASDAQ:PTON) reported disappointing fiscal third-quarter results before the open today. The company also announced it will cut 15% of its workforce -- roughly 400 jobs -- and that CEO Barry McCarthy is stepping down. PTON was up as much as 8.6% earlier, but has since pivoted sharply lower, down 7.1% at $2.99 at last glance. Peloton stock isn't too far removed from its April 25 record low of $2.91, and an executive today stated that the home fitness equipment name is still dealing wi ...

Investors don't see a rosy future, and it's only getting worse.Shares of connected fitness company Peloton Interactive (PTON 8.23%) stock dropped 27% in April, according to data provided by S&P Global Market Intelligence. While there wasn't any significant news in April, it was a continuation of a slide that's been ongoing and was reinforced with uninspiring results released in February.Things aren't going well in Peloton landPeloton rocketed to stardom early in the pandemic when fitness enthusiasts had to ...

Peloton CEO Barry McCarthy is stepping down from the beleaguered high-end fitness company after just more than two years in the role, the company announced Thursday.  His departure comes as the company is planning to cut about 15% of its global workforce, or about 400 employees, to lower costs. Karen Boone, who is the current Peloton chair, and Chris Bruzzo, a Peloton director, will serve as interim co-CEOs while the board conducts a search for McCarthy's permanent replacement.  HYATT, PELOTON TEAM UP TO OF ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

Peloton’s chief executive officer is stepping down from the role as the fitness company plans to cut roughly 15% of its global workforce.Chief Barry McCarthy told Peloton’s roughly 3,500 employees of his resignation in a note sent Thursday morning that his “one lasting legacy at Peloton” is the “GREAT lead team” he’s recruited since stepping into the top job in 2022.“Although the stock market hasn’t recognized this yet, they will. It’s simply a matter of time,” McCarthy added in reference to the nearly 45% ...

Peloton CEO Barry McCarthy is stepping down, the fitness company announced on Thursday.It also said that it was laying off 400 workers, or 15% of its total workforce.After reaching new highs during the pandemic, the company has recalled products, laid off workers, and seen sales and its stock tank. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized f ...

Peloton, the exercise equipment maker and creator of online fitness classes, has announced that it’s laying off 15 percent of its workforce — 400 people — as CEO, president, and board director Barry McCarthy steps down after two years in the role.McCarthy was previously CFO at Spotify and Netflix, and was coerced out of retirement in early 2022 when Peloton co-founder and then-CEO John Foley stepped down as part of a major cost-cutting effort that saw 2,800 employees laid off.This is a developing story, ref ...